To amend the Internal Revenue Code of 1986 to increase the limitation on the estate tax valuation of certain real property used in farming or other trades or businesses.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to increase the limitation on the estate tax valuation of certain real property used in farming or other trades or businesses., changes federal law or congressional policy affecting farmers, ranchers, and agricultural businesses. The main policy domain is Agriculture, Trade, Social Welfare.
Who Benefits and How
farmers, ranchers, and agricultural businesses may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, farmers, ranchers, and agricultural businesses may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H71B32BA96E62494F935FAC5C357FED93: 1. Short title This Act may be cited as the Preserving Family Farms Act of 2023.
- Section HCB31133BC6EB4CB592CDEF3CBD20D8E0: 2. Increase in limitation on the estate tax valuation of certain real property used in farming or other trades or businesses Section 2032A(a)(2) of the...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to increase the limitation on the estate tax valuation of certain real property used in farming or other trades or businesses., changes federal law or congressional policy affecting farmers, ranchers, and agricultural businesses.
Key Policy Areas
Agriculture, Trade, Social Welfare
Primary Purpose
This bill, To amend the Internal Revenue Code of 1986 to increase the limitation on the estate tax valuation of certain real property used in farming or other trades or businesses., changes federal law or congressional policy affecting farmers, ranchers, and agricultural businesses.
Policy Domains
Whole bill
Identified Gains
- farmers, ranchers, and agricultural businesses
Identified Costs
- federal implementing agencies
- farmers, ranchers, and agricultural businesses
Sponsors
Jimmy Panetta
D-CA | Primary Sponsor
Legislative Progress
IntroducedMr. Panetta (for himself and Mr. Kelly of Pennsylvania) introduced …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology